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Murdoch linked with £20m online graduate jobs business

Rupert Murdoch is set to buy a graduate recruitment website, Milkround Online, for around £20m, according to reports.

The Daily Telegraph reports that Murdoch's UK newspapers arm News International is in exclusive negotiations with Milkround, which has also attracted interest from rival newspaper groups Daily Mail & General Trust and Trinity Mirror, all of which have been on digital spending sprees.

The Milkround website allows university students to track jobs being offered by graduate recruiters. The business was founded in 1996 by an entrepreneur, Tom Hughes, who remains a major shareholder.

Neither News International nor Milkround would comment on the report.

Earlier this week, Murdoch's News Corporation agreed to acquire a 51% stake Jamba, the ringtone company behind Crazy Frog, for $187.5m.

The Daily Mail & General Trust spent £17m on the acquisition of three websites including car dealer site AutoExposure in July. In May, Associated spent £46.5m buying dating website Allegran and Data Media Retail, which owns Carsource.co.uk.

Also in May, Trinity Mirror bought regional internet property directory company Email4Property for £4.4m, which it is adding to its existing online property business, including SmartNewHomes.com.

From Brand Republic